Old Dominion Freight Line, Inc. (NASDAQ:ODFL) Shares Sold by Prudential PLC

Prudential PLC cut its holdings in shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) by 20.5% during the fourth quarter, HoldingsChannel.com reports. The firm owned 22,400 shares of the transportation company’s stock after selling 5,784 shares during the period. Prudential PLC’s holdings in Old Dominion Freight Line were worth $3,951,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the business. Whipplewood Advisors LLC acquired a new position in shares of Old Dominion Freight Line during the fourth quarter valued at about $35,000. Synergy Asset Management LLC purchased a new position in shares of Old Dominion Freight Line during the fourth quarter worth $41,000. Murphy & Mullick Capital Management Corp acquired a new position in shares of Old Dominion Freight Line in the 4th quarter valued at about $51,000. Versant Capital Management Inc boosted its stake in shares of Old Dominion Freight Line by 45.5% in the fourth quarter. Versant Capital Management Inc now owns 352 shares of the transportation company’s stock worth $62,000 after buying an additional 110 shares during the last quarter. Finally, Kohmann Bosshard Financial Services LLC acquired a new stake in Old Dominion Freight Line during the fourth quarter worth about $69,000. 77.82% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

ODFL has been the subject of a number of analyst reports. StockNews.com downgraded Old Dominion Freight Line from a “hold” rating to a “sell” rating in a report on Saturday, March 29th. The Goldman Sachs Group lifted their target price on shares of Old Dominion Freight Line from $213.00 to $235.00 and gave the company a “neutral” rating in a research report on Thursday, December 12th. Truist Financial started coverage on Old Dominion Freight Line in a research report on Thursday, March 13th. They set a “buy” rating and a $220.00 price target for the company. Stephens reaffirmed an “overweight” rating and set a $240.00 price objective on shares of Old Dominion Freight Line in a research note on Thursday, February 6th. Finally, Stifel Nicolaus upgraded Old Dominion Freight Line from a “hold” rating to a “buy” rating and upped their target price for the company from $193.00 to $200.00 in a report on Monday, February 24th. Two research analysts have rated the stock with a sell rating, fifteen have issued a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Old Dominion Freight Line currently has an average rating of “Hold” and an average price target of $199.70.

Old Dominion Freight Line Price Performance

Shares of ODFL opened at $152.06 on Friday. The firm’s 50 day moving average price is $179.81 and its 200 day moving average price is $192.51. The company has a market cap of $32.32 billion, a P/E ratio of 27.75, a PEG ratio of 2.89 and a beta of 1.25. The company has a quick ratio of 1.33, a current ratio of 1.33 and a debt-to-equity ratio of 0.01. Old Dominion Freight Line, Inc. has a fifty-two week low of $147.06 and a fifty-two week high of $233.26.

Old Dominion Freight Line (NASDAQ:ODFL) last announced its quarterly earnings data on Wednesday, February 5th. The transportation company reported $1.23 EPS for the quarter, topping analysts’ consensus estimates of $1.17 by $0.06. Old Dominion Freight Line had a return on equity of 28.02% and a net margin of 20.40%. On average, research analysts forecast that Old Dominion Freight Line, Inc. will post 5.68 earnings per share for the current fiscal year.

Old Dominion Freight Line Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 19th. Stockholders of record on Wednesday, March 5th were given a dividend of $0.28 per share. This is a boost from Old Dominion Freight Line’s previous quarterly dividend of $0.26. This represents a $1.12 annualized dividend and a dividend yield of 0.74%. The ex-dividend date of this dividend was Wednesday, March 5th. Old Dominion Freight Line’s dividend payout ratio is currently 18.98%.

Old Dominion Freight Line Profile

Old Dominion Freight Line, Inc operates as a less-than-truckload motor carrier in the United States and North America. The company offers regional, inter-regional, and national less-than-truckload services, as well as expedited transportation. It also provides various value-added services, including container drayage, truckload brokerage, and supply chain consulting.